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Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 2024
Revenue Recognition [Abstract]  
Schedule of Revenue by Major Market

The Company’s revenue by major market is as follows:

 

 

 

For the Quarter Ended March 31, 2024

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

22,301

 

 

$

 

 

$

 

 

$

22,301

 

Vehicle

 

 

29,410

 

 

 

 

 

 

 

 

 

29,410

 

Food and beverage

 

 

27,573

 

 

 

 

 

 

 

 

 

27,573

 

Industrial

 

 

53,614

 

 

 

 

 

 

(17

)

 

 

53,597

 

Infrastructure

 

 

19,327

 

 

 

 

 

 

 

 

 

19,327

 

Auto aftermarket

 

 

 

 

 

54,894

 

 

 

 

 

 

54,894

 

Total net sales

 

$

152,225

 

 

$

54,894

 

 

$

(17

)

 

$

207,102

 

 

 

 

For the Quarter Ended March 31, 2023

 

 

 

Material
Handling

 

 

Distribution

 

 

Inter-company

 

 

Consolidated

 

Consumer

 

$

23,876

 

 

$

 

 

$

 

 

$

23,876

 

Vehicle

 

 

32,008

 

 

 

 

 

 

 

 

 

32,008

 

Food and beverage

 

 

41,156

 

 

 

 

 

 

 

 

 

41,156

 

Industrial

 

 

55,522

 

 

 

 

 

 

(8

)

 

 

55,514

 

Infrastructure

 

 

 

 

 

 

 

 

 

 

 

 

Auto aftermarket

 

 

 

 

 

63,185

 

 

 

 

 

 

63,185

 

Total net sales

 

$

152,562

 

 

$

63,185

 

 

$

(8

)

 

$

215,739

 

Schedule of Balances included in Condensed Consolidated Statements of Financial Position (Unaudited) Related to Revenue Recognition

Amounts included in the Condensed Consolidated Statements of Financial Position (Unaudited) related to revenue recognition include:

 

 

 

March 31,

 

 

December 31,

 

 

Statement of Financial
Position

 

 

2024

 

 

2023

 

 

Classification

Returns, discounts and other allowances

 

$

(984

)

 

$

(1,200

)

 

Trade accounts receivable

Right of return asset

 

$

1,127

 

 

$

432

 

 

Inventories, net

Customer deposits

 

$

(2,099

)

 

$

(2,017

)

 

Other current liabilities

Accrued rebates

 

$

(2,991

)

 

$

(4,441

)

 

Other current liabilities